$1.6 million a year for doing nothing

CHANCES are you've never heard of Bobby Bonilla and that's perfectly fine - but one thing you should know is he holds one of the greatest contracts any person could ever dream of.

Bonilla played Major League Baseball for 16 years, in which time he won a World Series and was named an All-Star on six occasions.

In a three-year span from 1992 to 1994 Bonilla was the highest paid player in the league, but it's since his career finished the riches have flooded in.

After the 1999 season and still with one year remaining on his deal, the New York Mets released Bonilla. With $7.9 million still left on his contract Bonilla and his agent, Dennis Gilbert, arranged a deal with the Mets.

Gilbert was an insurance agent around the time the deal was constructed which helped him fleece the organisation for his client. The deal would see Bonilla defer payment for a decade and then have the Mets pay him $1.6 million per year, for 25 years.

Yes, you read that right - $1.6 million a year for 25 years.

Instead of keeping him on their roster and paying him $7.9 million for one season, the deal will see Bonilla being paid annually until 2035 - at which time he would have earned $40 million.

The deal was agreed too and Bonilla began receiving payments in 2011 on July 1.